Although the Weatherfield-based soap has attracted an average audience of 10.1 million viewers (47% share) this year to date, the chocolate maker has decided that it's time to say farewell to the Street.
It is understood that the current two-year deal is due to expire at the end of next year, but if a replacement sponsor is secured before the contract is concluded, Cadbury's involvement with the programme will end with immediate effect.
The brand’s popular credits have proved a successful marketing vehicle for several new product launches. Cadbury says it will continue to use television spot advertising on ITV as a key part of its marketing strategy.
ITV's Brand Partnerships Director Gary Knight commented: "This is an incredible sponsorship opportunity to be associated with one of Britain’s biggest and best-loved television properties. No other programme in the UK boasts a consistently high viewing share and audience that regularly hits 10 million. It’s also a fantastic opportunity to explore innovative ways to fully exploit the sponsorship."
He added: "ITV will continue to develop its already long-standing and mutually-beneficial relationship with Cadbury."
Cadbury Trebor Bassett Marketing Director Phil Rumbol said: "Cadbury has had a wonderful 10-year association with the programme but, like many of its famous characters, it's time to say goodbye to the Street. We initially signed a two-year deal in 1996 so the fact we stayed for a decade shows our commitment. Although Cadbury feels it is time to redeploy our marketing spend elsewhere, we wish ITV well in its search for a new sponsor."
The sponsorship package includes all episodes of Coronation Street on ITV1 and ITV2 as well as online, interactive, mobile opportunities, a new innovative broadband brand extension portfolio and opportunities for off-air licensing and merchandising.